Although John Mara regards the re-signing of Victor Cruz as a “high priority,” the Giants' owner says the team won’t overpay to retain him.

Negotiations on a long-term contract for Cruz, who is about to become a restricted free agent, “seem to have stalled,” Newsday reported.

Victor Cruz is a “high priority,” but the New York Giants' say they won’t overpay to retain him. (AP Photo)

Mara said Cruz has asked for too much money “right now ... but that's his agent," The Star-Ledger of Newark, N.J., reported. Cruz was one of the league’s most underpaid players this season at $540,000.

Asked if he thinks a deal will be completed before next season, Mara told Newsday, “I hope so, and we certainly want him back. But like any player, there’s a limit to where we’re going to go.

"He's been a terrific player for us, he's a fan favorite, he does a lot for our franchise, but there is a limit. But I hope we can get him back, and you know what, this is the best place for him to be playing. He's become such a fan favorite, he's become so popular in this area, I think it's in his best interest to stay. But that's the sales pitch, anyway. I think we'll get something done. … But if not, God bless him, we'll wish him luck."

If they can’t re-sign Cruz to a long-term deal before the free agent period opens in March, the Giants undoubtedly will put a restricted free agent tender on him. Presumably, they would give him a first-round tender, which means any team that signed him would have to give the Giants their first-round pick (if the Giants decided not to match the offer).

"(Cruz) is a high priority, he absolutely is, but he's not our only priority,” Mara said. “You have to have 53 guys signed and we have some needs in other areas, too. But listen, we do want him back and he is certainly a priority and I'm still optimistic about it."

Cruz, 26, made the Pro Bowl this season after posting his second consecutive 1,000-yard season. Signed as an undrafted free agent by the Giants in 2010, he became one of the league’s top big-play threats in 2011, when he put up 82 catches for 1,536 yards and nine touchdowns.

"I'm just waiting my time," Cruz told reporters this week at the Super Bowl. "I know the Giants have a lot of decisions to make as far as all the other free agents we have, so I'm just being patient. I know they have to come around at some point."